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  The Chatter Box : Blathering On
Usurers ! by johnnythemonkey on 28 June 2010 12:32am
I have a magazine sized catalogue in front of me that my wife received through the mail. It's from a company called very.co.uk and it features clothes, furniture, electrical goods etc.
I also features a 'typical' interest rate of 39.7% !!!
The Bank of England base rate is 1%. These people should be hung,drawn and quartered.
I knew of Glasgow gangsters who charged more competitive rates.........albeit they literally nailed you to a floor if you didn't pay but at least you knew what you were getting yourself into. :)
Re: Usurers ! by bIG bLOGGER on 28 June 2010 4:11pm
kazzzz wants to know (she just e-mailed me):

What's it feel like,to be nailed to the floor..??
Re: Usurers ! by mrsteabag on 28 June 2010 4:29pm
(Splutters unintelligibly)
Dinsdale, oh Dinsdale!!
Re: Usurers ! by johnnythemonkey on 28 June 2010 5:11pm
But what do all think of companies being allowed to get away with interest rates like this ?
Re: Usurers ! by perfectbitch on 28 June 2010 9:03pm
Johnny, I think it's criminal and should be legislated against. The people who work in the financial sector seem to be playing with figures which bear no relation to how much real money there actually is. Those companies that advertise short term loans charge over 2000% - I kid you not, look at the little "Small Print" message which appears at the bottom of the screen for a few seconds. I may have exaggerated the rate but I'm sure it's well over 1000%.

I despair of the industry and the myth that it creates wealth which "trickles down" to the poor. In this crisis, anything that may have trickled down in the boom period has been taken back by the last budget.

I'm sure most people are very angry about the financial situation but with the lure of technology and feelings of not being able to do anything about it, they don't make more of a collective actual (as opposed to virtual) protest.

Bring back bartering.

Re: Usurers ! by johnnythemonkey on 28 June 2010 9:50pm
The sad thing is Linz, is that the poorer people are, the higher the interest they are forced to pay.
Re: Usurers ! by mrsteabag on 30 June 2010 8:40pm
I, too, favor bartering. I've bartered editing and subscriptions to my e-mag for herbal preparations, manicures, chocolate, etc.
One of the scourges here in the states are payday loan stores--if you need cash to tide you over to the next paycheck, you merely fill out a form, provide the company with a blank check and your car title, and there you are. Miss your payment and a visit from the Pirahna Bros. would be an upgrade.
Re: Usurers ! by peripatetically on 3 July 2010 2:31pm
Never heard of that, Fran. WHere do you live?
Re: Usurers ! by mrsteabag on 3 July 2010 10:42pm
Between Chicago and DeKalb, sort of, in what used to be a corn or soybean field.
Northeastern IL has the dubious distinction of one of the highest rates of corruption among public officials, so it's no wonder that it's slipped into the public sector.

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